|
Report No. : |
350655 |
|
Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASYA KATILIM BANKASI A.S. |
|
|
|
|
Formerly Known as : |
ASYA FINANS KURUMU A.S. |
|
|
|
|
Registered Office : |
Saray Mah. Dr. Adnan Buyukdeniz Cad. No:10 Umraniye Istanbul |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
20.09.1996 |
|
|
|
|
Com. Reg. No.: |
353195 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Banking
activity. |
|
|
|
|
No. of Employee : |
3112 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Turkey |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TURKEY ECONOMIC OVERVIEW
Turkey's largely
free-market economy is increasingly driven by its industry and service sectors,
although its traditional agriculture sector still accounts for about 25% of
employment. An aggressive privatization program has reduced state involvement
in basic industry, banking, transport, and communication, and an emerging cadre
of middle-class entrepreneurs is adding dynamism to the economy and expanding
production beyond the traditional textiles and clothing sectors. The
automotive, construction, and electronics industries are rising in importance
and have surpassed textiles within Turkey's export mix.
Oil began
to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major
milestone that has brought up to 1 million barrels per day from the Caspian region
to market. Several gas pipeline projects also are moving forward to help
transport Caspian gas to Europe through Turkey, which over the long term will
help address Turkey's dependence on imported oil and gas, which currently meets
97% of its energy needs.
After
Turkey experienced a severe financial crisis in 2001, Ankara adopted financial
and fiscal reforms as part of an IMF program. The reforms strengthened the
country's economic fundamentals and ushered in an era of strong growth
averaging more than 6% annually until 2008. Global economic conditions and
tighter fiscal policy caused GDP to contract in 2009, but Turkey's
well-regulated financial markets and banking system helped the country weather
the global financial crisis, and GDP rebounded strongly to around 9% in
2010-11, as exports returned to normal levels following the recession. Two
rating agencies upgraded Turkey's debt to investment grade in 2012 and 2013,
and Turkey's public sector debt to GDP ratio fell to 33% in 2014. The stock
value of Foreign Direct Investment reached nearly $195 billion at year-end
2014.
Despite
these positive trends, GDP growth dropped to 4.4% in 2013 and 2.9% in 2014.
Growth slowed considerably in the last quarter of 2014, largely due to lackluster
consumer demand both domestically and in Europe, Turkey’s most important export
market. High interest rates have also contributed to the slowdown in growth, as
Turkey sharply increased interest rates in January 2014 in order to strengthen
the country’s currency and reduce inflation. Turkey then cut rates in February
2015 in a bid to spur economic growth.
The
Turkish economy retains significant weaknesses. Specifically, Turkey's
relatively high current account deficit, domestic political uncertainty, and
turmoil within Turkey's neighborhood leave the economy vulnerable to
destabilizing shifts in investor confidence. Turkey also remains dependent on
often volatile, short-term investment to finance its large current account
deficit.
|
Source
: CIA |
COMPANY
IDENTIFICATION
|
|
|
||
|
NAME |
: |
ASYA
KATILIM BANKASI A.S. |
|
HEAD
OFFICE ADDRESS |
: |
Saray
Mah. Dr. Adnan Buyukdeniz Cad. No:10 Umraniye Istanbul / Turkey |
|
REMARKS
ON HEAD OFFICE ADDRESS |
: |
The
address was changed from "Kucuksu Cad. Akcakoca Sok. No:6 34768 Umraniye
Istanbul" to "Saray Mah. Dr. Adnan Buyukdeniz Cad. No:10
Umraniye" by the Municipality. |
|
PHONE
NUMBER |
: |
90-216-633
50 00 90-216-633
50 24 |
|
FAX
NUMBER |
: |
90-216-633
50 50 |
|
WEB-ADDRESS |
: |
|
LEGAL
STATUS AND HISTORY
|
|
|
||||||||||||||||||||
|
TAX
OFFICE |
: |
Buyuk
Mukellefler |
||||||||||||||||||
|
TAX
NO |
: |
0910068613 |
||||||||||||||||||
|
REGISTRATION
NUMBER |
: |
353195 |
||||||||||||||||||
|
REGISTERED
OFFICE |
: |
Istanbul
Chamber of Commerce |
||||||||||||||||||
|
DATE
ESTABLISHED |
: |
20.09.1996 |
||||||||||||||||||
|
ESTABLISHMENT
GAZETTE DATE/NO |
: |
25.09.1996/4131 |
||||||||||||||||||
|
LEGAL
FORM |
: |
Joint
Stock Company |
||||||||||||||||||
|
TYPE
OF COMPANY |
: |
Private |
||||||||||||||||||
|
PAID-IN
CAPITAL |
: |
900.000.000
TL |
||||||||||||||||||
|
HISTORY |
: |
|
||||||||||||||||||
OWNERSHIP
/ MANAGEMENT
|
|
|
||||||||||||||||||||||
|
NOTES
ON OWNERSHIP / MANAGEMENT |
: |
Management
and ownership rights taken over by force. Quoted
at Stock Exchange. |
||||||||||||||||||||
|
SHAREHOLDERS |
: |
|
||||||||||||||||||||
|
REMARKS
ON SHAREHOLDERS |
: |
Savings
Deposit Insurance Fund took over the management of "Asya Katilim Bankasi
A.S." and took control of 63% of its privileged shares on 03.02.2015.
Then the new board members and general
manager were appointed by Savings Deposit Insurance Fund. |
||||||||||||||||||||
|
SUBSIDIARIES |
: |
|
||||||||||||||||||||
|
BOARD
OF DIRECTORS |
: |
|
||||||||||||||||||||
|
DIRECTORS |
: |
|
OPERATIONS
|
|
|
||||||||||||||||||||||||||||
|
BUSINESS
ACTIVITIES |
: |
Banking
Activity There
are 200 branches in Turkey as of 31.03.2015. |
||||||||||||||||||||||||||
|
NACE
CODE |
: |
J
.65.12 |
||||||||||||||||||||||||||
|
SECTOR |
: |
Finance |
||||||||||||||||||||||||||
|
NUMBER
OF EMPLOYEES |
: |
3.112 |
||||||||||||||||||||||||||
|
NET
SALES |
: |
|
||||||||||||||||||||||||||
|
CAPACITY |
: |
None |
|
PRODUCTION |
: |
None |
|
HEAD
OFFICE ADDRESS |
: |
Saray
Mah. Dr. Adnan Buyukdeniz Cad. No:10 Umraniye
Istanbul / Turkey |
|
SIZE
OF BUSINESS |
: |
Giant |
FINANCE
|
|
|
||
|
PAYMENT
BEHAVIOUR |
: |
No Complaints |
COMMENT
ON FINANCIAL POSITION
|
|
General
Financial Position |
Passable |
|
|
Incr.
in producers’ price index |
Average
USD/TL |
Average
EUR/TL |
Average
GBP/ TL |
|
( 2003 ) |
13,90
% |
1,5302 |
1,7141 |
2,4982 |
|
( 2004 ) |
13,84
% |
1,4266 |
1,7666 |
2,6001 |
|
( 2005 ) |
2,66
% |
1,3499 |
1,6882 |
2,4623 |
|
( 2006 ) |
11,58
% |
1,4309 |
1,7987 |
2,6377 |
|
( 2007 ) |
5,94
% |
1,3075 |
1,7901 |
2,6133 |
|
( 2008 ) |
8,11
% |
1,2858 |
1,8876 |
2,3708 |
|
( 2009 ) |
5,93
% |
1,5460 |
2,1529 |
2,4094 |
|
( 2010 ) |
8,87
% |
1,5128 |
2,0096 |
2,3410 |
|
( 2011 ) |
13,33
% |
1,6797 |
2,3378 |
2,6863 |
|
( 2012 ) |
2,45
% |
1,7995 |
2,3265 |
2,8593 |
|
( 01.01-31.03.2013) |
0,50
% |
1,7901 |
2,3575 |
2,7927 |
|
( 2013 ) |
6,97
% |
1,9179 |
2,5530 |
3,0178 |
|
( 2014 ) |
6,36
% |
2,1891 |
2,8989 |
3,6060 |
|
( 01.01-31.03.2015) |
2,60
% |
2,4709 |
2,8023 |
3,7626 |
|
( 01.01-31.10.2015) |
7,59
% |
2,6873 |
3,0050 |
4,1301 |
|
|
( 31.12.2012 ) TL Thousand |
( 31.12.2013 ) TL Thousand |
( 31.12.2014 ) TL Thousand |
( 31.03.2015 ) TL Thousand |
|
Cash And Balances With The Central Bank Of Turkey |
2.689.596 |
3.980.097 |
1.631.870 |
1.411.306 |
|
Financial Assets Where Fair Value Change Is Reflected To Income
Statement (Net) |
7.895 |
35.718 |
10.362 |
17.845 |
|
Banks |
405.458 |
262.575 |
793.584 |
370.116 |
|
Money Market Securities |
0 |
0 |
0 |
0 |
|
Financial Assets Available For Sale (Net) |
792.325 |
1.177.499 |
759.766 |
620.767 |
|
Loans |
15.376.599 |
19.546.822 |
7.275.086 |
6.320.772 |
|
Loans Under Follow-Up |
648.921 |
1.158.191 |
1.784.640 |
1.843.760 |
|
Factoring Receivables |
0 |
0 |
0 |
0 |
|
Investments Held To Maturity (Net) |
0 |
0 |
0 |
0 |
|
Affiliates (Net) |
169.473 |
213.906 |
242.623 |
0 |
|
Subsidiaries (Net) |
108.967 |
59.325 |
4.211 |
4.211 |
|
Joint Ventures (Business Partners) (Net) |
0 |
0 |
0 |
0 |
|
Receivables From Leasing Transactions (Net) |
281.870 |
552.153 |
347.261 |
322.609 |
|
Derivative Financial Assets Held For Hedging |
0 |
0 |
0 |
0 |
|
Fixed Assets (Net) |
128.099 |
150.807 |
81.573 |
76.179 |
|
Intangible Assets [Net] |
13.779 |
13.303 |
11.369 |
10.375 |
|
Real Estates For Investment Purpose (Net) |
0 |
0 |
0 |
0 |
|
Assets For Tax |
16.348 |
32.315 |
47.156 |
46.004 |
|
Property And Equipment Held For Sale Purpose And Held From Terminated
Operations (Net) |
151.869 |
57.452 |
160.280 |
172.097 |
|
Other Assets |
598.825 |
544.784 |
530.033 |
508.722 |
|
Not Detailed Total Assets |
0 |
0 |
0 |
0 |
|
TOTAL ASSETS |
21.390.024 |
27.784.947 |
13.679.814 |
11.724.763 |
|
LIABILITIES |
19.040.751 |
25.274.001 |
11.974.422 |
10.276.790 |
|
Deposits |
15.741.858 |
18.511.563 |
8.886.953 |
7.551.495 |
|
Derivative Financial Liabilities Held For Trading |
6.581 |
25.548 |
1.423 |
976 |
|
Funds Borrowed |
1.815.403 |
3.808.063 |
1.172.345 |
683.745 |
|
Interbank Money Market |
0 |
767.097 |
303.131 |
370.118 |
|
Marketable Securities Issued (Net) |
0 |
0 |
0 |
0 |
|
Funds |
0 |
0 |
0 |
0 |
|
Miscellaneous Payables |
633.114 |
766.146 |
364.594 |
407.097 |
|
Other External Resources |
532.855 |
454.302 |
313.291 |
248.003 |
|
Factoring Payables |
0 |
0 |
0 |
0 |
|
Leasing Transactions Payables |
0 |
0 |
0 |
0 |
|
Derivative Financial Liabilities Held For Hedging |
0 |
12.830 |
0 |
0 |
|
Provisions |
257.126 |
340.903 |
317.905 |
342.662 |
|
Liabilities For Tax |
53.814 |
43.286 |
23.323 |
19.343 |
|
Liabilities For Property And Equipment Held For Sale Purpose And Held
From Terminated Operations |
0 |
0 |
0 |
0 |
|
Subordinated Loans |
0 |
544.263 |
591.457 |
653.351 |
|
Not Detailed Liabilities |
0 |
0 |
0 |
0 |
|
STOCKHOLDERS' EQUITY |
2.349.273 |
2.510.946 |
1.705.392 |
1.690.596 |
|
Not Detailed Stockholders' Equity |
0 |
0 |
0 |
0 |
|
Paid-in capital |
900.000 |
900.000 |
900.000 |
900.000 |
|
Revaluation Fund |
19.240 |
1.456 |
18.601 |
12.721 |
|
Reserves |
1.239.641 |
1.428.886 |
1.600.261 |
1.597.217 |
|
Minority Interest |
0 |
0 |
0 |
0 |
|
Accumulated profit/loss |
0 |
0 |
0 |
-813.470 |
|
Net Profit/Loss |
190.392 |
180.604 |
-813.470 |
-5.872 |
|
TOTAL LIABILITIES AND EQUITY |
21.390.024 |
27.784.947 |
13.679.814 |
11.967.386 |
|
|
(2012) TL
Thousand |
(2013) TL
Thousand |
(2014) TL
Thousand |
(01.01-31.03.2015)
TL Thousand |
|
Interest Income |
1.672.257 |
1.816.158 |
1.290.957 |
200.084 |
|
Interest Expenses |
-791.932 |
-838.902 |
-625.816 |
-79.905 |
|
Net Interest Income/Expenses |
880.325 |
977.256 |
665.141 |
120.179 |
|
Net Fees And Commissions Income/Expenses |
287.256 |
320.524 |
220.631 |
40.979 |
|
Dividend Income |
3.376 |
3.376 |
11.532 |
0 |
|
Trading Profit/Loss (Net) |
25.808 |
28.356 |
-39.003 |
-15.799 |
|
Other Operating Income |
136.030 |
233.271 |
694.196 |
83.513 |
|
Total Operating Income/Expenses |
1.332.795 |
1.562.783 |
1.552.497 |
228.872 |
|
Provision For Loan Or Other Receivables Losses (-) |
-413.776 |
-550.265 |
-1.485.047 |
-90.188 |
|
Other Operating Expenses (-) |
-673.578 |
-799.414 |
-897.691 |
-141.933 |
|
Financial Expenses |
0 |
0 |
0 |
0 |
|
Net Operating Profit/Loss |
245.441 |
213.104 |
-830.241 |
-3.249 |
|
Surplus Written As Gain After Merger |
0 |
0 |
0 |
0 |
|
Profit/Loss From Equity Method Applied Subsidiaries |
0 |
0 |
0 |
0 |
|
Net Monetary Position Gain/Loss |
0 |
0 |
0 |
0 |
|
Profit/Loss Before Taxes From Continuing Operations |
245.441 |
213.104 |
-830.241 |
-3.249 |
|
Provision For Taxes On Income From Continuing Operations (±) |
-55.049 |
-32.500 |
16.771 |
-2.623 |
|
Net Profit/Loss From Continuing Operations |
190.392 |
180.604 |
-813.470 |
-5.872 |
|
Income From Terminated Operations |
0 |
0 |
0 |
0 |
|
Expenses From Terminated Operations (-) |
0 |
0 |
0 |
0 |
|
Profit/Loss Before Taxes From Terminated Operations |
0 |
0 |
0 |
0 |
|
Provision For Taxes On Income From Terminated Operations (±) |
0 |
0 |
0 |
0 |
|
Net Profit/Loss From Terminated Operations |
0 |
0 |
0 |
0 |
|
Net Profit/Loss |
190.392 |
180.604 |
-813.470 |
-5.872 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.98 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.